Wyoming's Economy Ranks Among the Worst

According to a study, Wyoming's economy ranks among the worst in the country.

Wallethub.com placed the state at #9.

News 13's Tyler Waggenspack reports on why Wyoming ranks this low.

A quick online search, and you'll find wallet hub's recent study comparing state economies.

Rankings were given based upon a state's gross domestic product, job shares, and high tech industries.

Scroll down and Wyoming ranks 43 out of all 50 states.

In other words, 9th worst overall.

The state also has the lowest percentage of high tech jobs along with being placed 32nd for health care services, and 45th for workforce innovations.

"We've seen job losses in many different sectors of the economy: wholesale trade transportation, some job losses in retail," said David Bullard, a senior economist with the Wyoming Department of Workforce Services.

Most notably, the oil industry took the biggest hit with decreasing prices over the years.

"But drilling really fell off too. Our rig count got as low as seven which is very low, it's come back up to 25."

And for nearly two years, unemployment rates rose in natural resource fields.

"We got to the most recent month that we have which is the April data and the unemployment was flat from a year ago."

But lately, there has been some improvement.

"So there are some signs that may be stabilizing."

And brining jobs back to Wyoming.

Bullard adds that health care provides the most state jobs when other areas see drops in employment.



 
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